Macrovision shares gained ground for the second day in a row Thursday after the company raised its sales and earnings estimates for fiscal 2001.
Macrovision (Nasdaq: MVSN), which develops video security technology, gained $2 to $67.50 after shooting up 13 percent Wednesday.
Company officials told the Street to expect sales of $105 million to $110 million, up from the $103 million it previously anticipated. It also bumped fiscal 2001 profit estimates to 80 cents a share from 73 cents as hare.
It now expects gross profit margins between 92 percent to 94 percent in the fiscal year and operating margins in the range of 52 percent to 55 percent.
First Call Corp. consensus expects Macrovision to earn 17 cents a share in its fourth quarter on sales of $21.7 million.
Last quarter, it easily topped analysts’ estimates, earning $8.9 million, or 18 cents a share, on sales of $20.4 million.
The stock moved up to a 52-week high of $108.25 in September after falling to a low of $31.19 last January.
Five of the seven analysts tracking the stock rate it either a “buy” or “strong buy.”